Material Technologies, Inc. (OTC Bulletin Board: MTNA), a company that engages in the research and development of metal fatigue detection, measurement, and monitoring technologies, and, UTEK Corporation, a specialty finance company focused on technology transfer, are pleased to announce that they have signed a strategic alliance agreement.
Robert Bernstein, Chief Executive Officer of Material Technologies, Inc. said, "We are very pleased to form this alliance with UTEK. We believe it will provide promising new technology acquisition opportunities for us to consider."
"UTEK looks forward to working with Material Technologies, Inc. to identify potential technology acquisition opportunities that fit its strategic vision," commented Doug Schaedler, Chief Operating Officer of UTEK Corporation.
Through its strategic alliance agreements, UTEK assists companies in enhancing their new product pipeline with the acquisition of proprietary intellectual capital from universities and laboratory research centers. Strategic alliance agreements are generally cancelable by either party with thirty days advance written notice.
About Material Technologies, Inc. (MTNA.OB)
Material Technologies, Inc. is an engineering, research and development company specializing in technologies to measure microscopic fractures and flaws in metal structures and monitor metal fatigue in real time. The company's leading edge metal fatigue detection, measurement and monitoring solutions can accurately test the integrity of metal structures and equipment including bridges, railroads, airplanes, ships, cranes, power plants, mining equipment, piping systems and heavy iron. For more information about Material Technologies, Inc., please visit its website at http://www.matechcorp.com.
To hear more about MTNA from CEO/President Robert M. Bernstein go to: http://www.publiccoreport.net/featured/MTNA/company.asp or visit the company's website at http://www.matechcorp.com.
About UTEK Corporation
UTEK(R) is a specialty finance company focused on technology transfer. UTEK enables companies to acquire innovative technologies from universities and research laboratories worldwide. UTEK facilitates the identification and then finances the acquisition of external technologies for clients in exchange for their equity securities. This unique process is called U2B(R). In addition to its U2B(R) service, UTEK offers companies the tools to search, analyze and manage university intellectual properties. UTEK is a business development company with operations in the United States, United Kingdom and Israel. For more information about UTEK, please visit its website at http://www.utekcorp.com.
Forward-Looking Statements
Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words, such as Material Technologies, Inc. or UTEK "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe Material Technologies, Inc.'s or UTEK's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of Material Technologies, Inc. or UTEK, as appropriate, and the valuation of UTEK's investment portfolio, which could cause actual results to differ materially from those currently anticipated. Although Material Technologies, Inc. and UTEK believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, they cannot give any assurance that their expectations will be attained. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements, and some of these factors are discussed below. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release and both Material Technologies, Inc. and UTEK do not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Contact:
Material Technologies, Inc.
ir@matechcorp.com